South Africa’s Northam Platinum posts 74% jump in half-year earnings

PUBLISHED: Fri, 19 Mar 2021 05:17:22 GMT


JOHANNESBURG, March 18 (Reuters) – South African miner Northam Platinum on Friday reported a surge in interim headline earnings driven by higher metals prices and a weaker rand exchange rate.

The company reported a 74% jump in normalised headline earnings per share (HEPS) for the six months ended Dec. 31 of 641.5 cents compared with 369.6 cents during the same period a year earlier.

HEPS is the main profit measure used in South Africa, which strips out certain once-off items. (Reporting by Tanisha Heiberg; Editing by Jacqueline Wong)

(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.